v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 29,645 $ 19,915
Other Current Assets 40,287 72,270
Total current assets 69,932 92,185
Property, plant and equipment, net 179,646 222,816
Operating lease right-of-use assets 3,634,307 3,734,869
Deposits 511,559 461,132
Total assets 4,395,444 4,511,002
Current liabilities:    
Accounts payable and accrued expenses 9,517,931 8,634,991
Operating lease liabilities, current portion 354,082 367,125
Notes payable 24,771,833 24,272,066
Total current liabilities 34,643,846 33,274,182
Long term liabilities:    
PPP loan payable 471,300 471,300
Operating lease liabilities, non-current portion 3,173,190 3,237,060
Total liabilities 38,288,336 36,982,542
Stockholders’ deficit:    
Series A Convertible Preferred stock; $0.01 par value, 40,000 shares authorized, 147 and 147 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 1 1
Common stock, $0.001 par value, 100,000,000 shares authorized 32,958,288 and 32,958,288 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 32,958 32,958
Additional paid-in capital 35,253,190 35,276,650
Treasury stock, 74,453 common shares, at cost
Accumulated deficit (69,179,041) (67,781,149)
Total stockholders’ deficit (33,892,892) (32,471,540)
Total liabilities and stockholders’ deficit $ 4,395,444 $ 4,511,002